Financing in Agoura Hills>Question Details

Sid, Home Buyer in Oak Park, CA

Looking for 10% down on 30 year fixed loans. Have great credit & fico. purchase price 1.1m.

Asked by Sid, Oak Park, CA Sun Feb 28, 2010

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Wayne L. Brown’s answer
Your chances of finding 90% or even 85% in this market are very slim. I know that sounds harsh, but lenders, especially in the Jumbo category have tightened guidelines trmendously.

As one indicated, the only possibility I see is if you can secure a seller carry-back.........that said, you will also need a lender who will allow that with a CLTV of 90% which truthfully may be very difficult.

Good Luck and find a good CA broker to help you.
0 votes Thank Flag Link Mon Mar 1, 2010
We do offer 90% combined loan to value loan for up to 1.375 Mil., We will do 80% first (if you have 740 minimum fico) and are OK with a 10% second lien behind our first...(I just do not know who will do that loan...most likely Private Money, Seller Carry Back, Employer 2nd..etc. But regardless of whether the lender of the 2nd lien is a private-party individual or an institution, a copy of the note will be required and would have to meet certain parameters...

Do you have any relatives that could help you with 5%, in which case we have a 1st and 2nd program ,in house, for up the 85% loan to value (80/5/15)

Fee free to call me for further details (we do loans anywhere in CA)

Thierry Abel
Senior Loan Consultant
All California Mortgage
A Division of APMC
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
NMLS 304353 - DRE 01380701
0 votes Thank Flag Link Tue Jan 29, 2013
I have a direct lender who can do this on a case by case basis.
Contact me:
Web Reference:
0 votes Thank Flag Link Sun Feb 28, 2010
Hi Sid,

There are very few companies doing loans over 729K. The companies that I know want 20% down, however they may agree to 15%, provided the file is strong. You have good FICO, that is good. What about DTI? What above reserves? What about assets in IRA, 401K?. Can you get a gift ? Wage Earner or Self-employed?

Please ponder over these and feel free to contact me.

Web Reference:
0 votes Thank Flag Link Sun Feb 28, 2010
I could possibly do an 85%, but not 90 at that loan amount. There are no PMI companies that will insure it.

Also, maybe the Seller will take a 2nd.

Call me if you want to discuss 310-741-7179
Web Reference:
0 votes Thank Flag Link Sun Feb 28, 2010
Best contact a local mortgage broker direct could be considered a jumbo loan with higher down payment .

Web Reference:
0 votes Thank Flag Link Sun Feb 28, 2010
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